Net Smelter Return Royalty. Pacifico shall be entitled to a Net Smelter Return Royalty equal to 3% (three percent) of the Net Smelter Returns for the entire life of the operations in Ecuador or 30 years, whichever comes later. "Net Smelter Returns" means the proceeds received from any smelter or other purchaser from the sale of any ores, concentrates or minerals produced from operations in Ecuador after deducting from such proceeds the following charges only to the extent that they are not deducted by the smelter or other purchaser in computing the proceeds: (i) the cost of transportation of the ores, concentrates or minerals from the property to such smelter or other purchaser, including related transport; (ii) smelting and refining charges including penalties; (iii) marketing costs. The Net Smelter Return Royalty shall be calculated and paid to Pacifico on a quarterly basis within forty-five (45) days after the end of each fiscal quarter. Spirit shall have the right to buy-back 1% of the Net Smelter Return Royalty held by Pacifico for $1,000,000 USD in cash.
Net Smelter Return Royalty. (a) MPA shall pay DMSL a quarterly production royalty equivalent to the following:
Net Smelter Return Royalty. 4.1 The transfer of the Property by the Optionor is subject to the Optionor retaining the NSR with respect to the production from the Property having the following attributes:
Net Smelter Return Royalty. For good and valuable consideration, the receipt and sufficiency whereof being hereby acknowledged, the Owner does hereby issue and grant to the Royalty Holder, and agrees to pay to the Royalty Holder, the Royalty all on the terms and conditions specified in this Agreement.
Net Smelter Return Royalty. Section 2)b of the Assignment Agreement is replaced in its entirety with the following:
Net Smelter Return Royalty. (a) The Corporation will grant to the Executive a net smelter returns royalty (“NSR”) equal to:
Net Smelter Return Royalty. In addition to the annual payments provided for in section 4.1, if the Premises are placed into commercial production, Gentor agrees to pay to Owner a royalty of Two Percent (2%) from all ores, minerals, or other products removed from the Premises and sold or processed by Gentor (the “Net Smelter Return”). The amount of the Net Smelter Return from the proceeds received from production shall be determined at the end of each calendar quarter after the Effective Date. Payments of the Net Smelter Return as determined hereunder shall be made within thirty (30) days after the end of each calendar quarter for which such Net Smelter Return is determined to be payable or the date on which Gentor receives a smelter or refinery statement for production during such calendar quarter, whichever date is later. Xxxxxxx X. & Xxxx X. Xxxxxx 0000 Xxxxxxxx Xxxxx Missoula, MT 59803 Gentor shall be obligated to deliver only one (1) check or payment for the Net Smelter Return, and Gentor shall have no responsibility for disbursement or distribution of any such payment after receipt by Owner. At the time of making such payment, Gentor shall deliver to Owner a statement showing the amount of Net Smelter Return due and the manner in which it was determined and shall submit to Owner data reasonably necessary to enable Owner to verify the determination.
Net Smelter Return Royalty. As of the date hereof, Bolsa does hereby grant convey, remise, release, and forever quitclaim unto Xxxxxxx, its successors and assigns, a production royalty (the "Bolsa NSR") of three percent (3%) of the Net Smelter Returns (as herein defined) from all Crude Ores and Concentrates mined or otherwise recovered and removed from mineral claims on the Initial Bolsa Real Property Assets. The "Net Smelter Return" on Crude Ore or Concentrates derived and sold by Bolsa from the Initial Bolsa Real Property Assets shall be determined as follows:
Net Smelter Return Royalty. 1. For the purposes of this Agreement the term "Net Smelter Returns" shall mean the actual proceeds received from any independent custom smelter, mill, mint or other purchaser for the sale of all minerals, metals or concentrates extracted and derived from the ore mined from the Property after deducting therefrom all charges and penalties for smelting and refining and the cost of transportation (to the mill or smelter and thereafter to the mint), insurance premiums, sampling and assaying charges incurred after the minerals, metals or concentrates have left the Property and all appropriate mint charges.
Net Smelter Return Royalty. As of the date hereof, for a cash consideration of $2,000,000 (in words: US Dollars Two Million), payable by NewCo to Xxxxxxx at the closing of the transaction contemplated by the Stock Purchase Agreement by wire transfer or delivery of other immediately available funds (the "Cash Consideration"), Minera does hereby remise, release, and forever quitclaim unto Newco its successors and assigns, a production royalty (the ea"Minera NSR") of three percent (3%) of the Net Smelter Returns(as herein defined) from all Crude Ores and Concentrates mined or otherwise recovered and removed from mineral claims on the Xxxxxxxxx Property. The Net Smelter Return on Crude Ore or Concentrates derived and sold by Minera from the Xxxxxxxxx Property shall be determined as follows:
